FS Investment unit amends facility to trim pricing, extend maturity

By Marisa Wong

Morgantown, W.Va., July 20 – Jefferson Square Funding LLC, a wholly owned subsidiary of FS Investment Corp. III, entered into an amended and restated loan agreement on July 16 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The restated loan agreement amends the loan agreement dated May 8, 2015 to reduce pricing on dollar-denominated loans to Libor plus 250 basis points and extend the maturity date to July 16, 2022.

The amendment also temporarily increases the total amount of available borrowings to $800 million and permits Jefferson Square to borrow, pay down and reborrow a certain percentage of the total available borrowings on a revolving basis.

In addition, the restated agreement permits a limited amount of borrowings in some foreign currencies.

FS Investment is a business development company based in Philadelphia.

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